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S.B. Chatterjee |
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For setting up an SEZ/FTWZ does the promoter or applicant company have a lock in period for the shareholding?
In other words, if Company X floats an SPV say Company Y with company X holding 100% shares in company Y,
and applies to BOA for approval to set up an SEZ, then on receiving approval from BOA and thereafter after notification
of land, does Company X have to hold on to any minimum stipulated shareholding in Company Y? Or, in case Company
X wants to divest its entire sholding soon after notification to another party, it can do so? |
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